WMX 1.01% $1.00 wiluna mining corporation limited

news article from herald sun

  1. 2,827 Posts.
    lightbulb Created with Sketch. 3

    THE team that helped Cazaly Resources snatch the Shovelanna iron ore tenements from mining giant Rio Tinto is behind another high-profile land grab in Western Australia, this time affecting Wesfarmers.

    Shannon McMahon, brother of Cazaly managing director Nathan McMahon, yesterday confirmed that he had helped coal junior Blackham Resources peg parts of the Scaddan brown coal deposit near Esperance after Wesfarmers let its hold on the land lapse.
    Blackham shares have gained more than 60 per cent to 52 since Wednesday when the company told the market it had made a claim on the exploration leases.

    It is believed Nathan McMahon has an 8 per cent stake in Blackham.

    Shannon McMahon, who runs tenement manager McMahon Mining Titles, was retained by Blackham to advise on coal mining tenements.

    Mr McMahon told BusinessDaily that he arranged for the Scaddan leases to be physically pegged after midnight on February 19, thinking Wesfarmers had let them go on purpose.

    It later emerged that Wesfarmers, which had held the ground for 20 years, had made a mistake.

    Blackham is now in a three-way battle with Wesfarmers and another junior, Jindalee Resources, which has also made a claim on the ground.

    The tenement triangle will test the WA Government, which will have its decision to hand the Shovelanna deposit back to Rio Tinto examined by a court on Monday.

    Former WA Resources Minister John Bowler used his discretion last year to dismiss Cazaly's application for the tenement that holds Shovelanna on the grounds of public interest.

    Mr McMahon said he did not realise until early this week that Wesfarmers had made a mistake, thinking that the company, which has other leases in the area, had let the coal tenements go on purpose.

    He denied he was a thorn in the side of big companies in WA, suggesting instead that they should look after their tenements properly.

    "The only assets that a junior company has is its mining tenements and therefore it's a high priority for them," he said. "Companies like Rio Tinto and Wesfarmers don't seem to be aware that their assets are their mining tenements."
watchlist Created with Sketch. Add WMX (ASX) to my watchlist
(20min delay)
Mkt cap ! $126.2M
Open High Low Value Volume
98.5¢ $1.00 98.5¢ $122.5K 122.7K

Buyers (Bids)

No. Vol. Price($)
2 15030 99.0¢

Sellers (Offers)

Price($) Vol. No.
$1.00 58410 2
View Market Depth
Last trade - 16.10pm 14/05/2021 (20 minute delay) ?
0.010 ( 1.00 %)
Open High Low Volume
$1.00 $1.00 99.0¢ 9941
Last updated 15.52pm 14/05/2021 (live) ?
WMX (ASX) Chart
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.